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(Seoul = Yonhap News) Reporter Lim Soo-jeong = On the 4th, the first trading day of the new year, the won/dollar exchange rate dropped to the beginning of 1,080 won.
On that day, the won/dollar exchange rate in the Seoul foreign exchange market ended at 1,082.1 won per dollar, down 4.2 won from the closing price on the previous trading day.
The exchange rate started at 1,087.5 won per dollar, which rose 1.2 won, but during the week it showed a sharp decline and crossed the 1,070 line.
During the week, it fell to 1,080.30 won, which is the lowest in about two years and seven months since June 12, 2018 (the low intraday price of 1,072.70 won).
Based on the closing price, it is the same as last year’s lowest recorded last month.
The sentiment of global risk appetite and the strength of the yuan during the week put downward pressure on the exchange rate.
The KOSPI also broke the all-time high, showing strong 2% amid net buying of individuals.
Last month’s exports, which were announced during the holiday season, increased 12.6% compared to the same period last year, and the record-highest export amount as of December also contributed to the strengthening of the won.
However, the inflow of low-priced purchases and the fear of intervening authorities supported the lower exchange rate.
Seungji Jeon, a researcher at Samsung Futures, analyzed, “On the first day of the new year, the preference for risky assets strengthened and the direction of betting on weak dollars was clear.”
The KRW/JPY financial exchange rate is 1,050.33 KRW per 100 yen at 3:30 pm. It fell 0.81 won from the standard price (1051.14 won) at 3:30 pm on the 30th of last month.
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2021/01/04 15:44 sent